Silverstein Makes It Official: Announces $1 B. Buy of 1177 Sixth

Larry Silverstein’s firm announced on Thursday that it had bought 1177 Avenue of the Americas for over $1 billion. Silverstein properties partnered with the California State Teachers’ Retirement System, and the joint venture bought the midtown tower from Paramount Group.

The Observerbroke the news of the deal last month. It’s the third big purchase Mr. Silverstein has made with CalSTRS.